To celebrate her successful graduation, Michelle received a pair of expensive diamond earrings. She wants to wear the precious jewelry on special occasions. However, after the initial euphoria about the precious gift, she begins to have doubts: What would happen if she were to damage or even lose one of the earrings?
Christian has been saving for a high-quality wristwatch for a long time and wanted to treat himself to a Rolex for his milestone birthday. However, as a passionate swimmer, an uneasy feeling overcame him shortly after the purchase: What would happen if his luxury watch were to be damaged by contact with water? Or if it were stolen from the changing room?
Michelle and Christian want to know whether their household contents insurance offers sufficient insurance coverage for their valuables. For this purpose, they check the policies of their respective insurance companies.
A look at Michelle's policy reveals that she has taken out the supplementary insurance "Simple theft outside the home" with a sum insured of CHF 3,000, for which she pays CHF 120 per year.
Michelle knows that her diamond earrings cost around CHF 5,000. So she should increase the sum insured by this amount. In order to avoid underinsurance, she should also increase her household contents, which she has insured for CHF 80,000, by the value of the jewelry. But wouldn't that increase her insurance premium too much?
Christian doesn't want to place a further big strain on his budget either, especially since his Rolex cost him even more. It is worth around CHF 9,000.
Both want more comprehensive insurance coverage for their valuables for a reasonable price and therefore ask themselves: Is there any special jewelry or watch insurance?
The insurance of valuables with "all-risk coverage" protects against the following risks:
It makes no difference whether a mishap happens to you or the jewelry is damaged by a third party. The coverage is valid worldwide. Individual items can be insured individually and for a specific value. This means that the valuables do not have to be included in the household contents insurance. In Michelle's case, this means that she does not have to increase her sums insured by the value of the earrings – neither for household contents nor for the "simple theft outside the home" supplement.
For Michelle, it is therefore clear: She needs to take out separate insurance of valuables for her valuable jewelry.
Now that Michelle has insured her jewelry, she is able to wear her earrings with fewer worries – sometimes even in everyday life. Christian has also decided to insure his valuable watch and is able to wear the precious timepiece confidently on his wrist.
Thanks to the insurance of valuables, both of them now have the good feeling of knowing that their insured items are comprehensively protected. This is because in the event of loss, theft, damage or destruction, the insurance covers the value of their expensive items.
Do you own a valuable watch or other valuables that mean a lot to you? If so, protect your precious items against damage, theft or loss through insurance of valuables.
